eBay Now Has An Established NFT Marketplace At Its Bidding (theverge.com) 19
eBay made its biggest move yet into the world of digital collectibles with news today of the company acquiring NFT marketplace KnownOrigin. The online auction company is keeping lips sealed on the deal's value but confirmed in the press release that the deal is closed as of June 21st. The Verge reports: "This partnership will help us attract a new wave of NFT creators and collectors," said KnownOrigin co-founder David Moore. KnownOrigin describes itself as "one the world's first, and largest, NFT Marketplaces," and it currently ranks No. 12 on all-time trading volume for Ethereum-backed NFTs at $7.8 million, according to DappRadar. Higher ranked, more popular marketplaces include OpenSea (No. 1) with an all-time trading value at $30.43 billion and Decentraland (No. 8) at $155.66 million.
eBay started allowing NFT sales on its site last year. With the KnownOrigin acquisition, eBay has the opportunity to control a proper digital marketplace where NFT transactions can be both monitored and controlled -- not just offered with the fingers-crossed hope the seller transfers an NFT to the buyer's wallet correctly.
eBay started allowing NFT sales on its site last year. With the KnownOrigin acquisition, eBay has the opportunity to control a proper digital marketplace where NFT transactions can be both monitored and controlled -- not just offered with the fingers-crossed hope the seller transfers an NFT to the buyer's wallet correctly.
Late to the game (Score:3)
I thought the NFT "market" was already crashing.
So why spend resources on a NFT marketplace now?
Re:Late to the game (Score:5, Insightful)
They probably started working on it last year and by the time it was ready to launch the marketplace was crashing and burning.
Re: (Score:2)
They probably started working on it last year and by the time it was ready to launch the marketplace was crashing and burning.
Yea, that’s been a common theme among many industries over the last two years. Looks like the maiden voyage of the worlds biggest cruise ship is straight to the scrap yard [ndtv.com].
Re: (Score:2)
NTFs were never an "industry", which means manufacturing of goods or materials.
Re: (Score:2)
NTFs were never an "industry", which means manufacturing of goods or materials.
Go back and read where I said that. I was just pointing out how entire economies are collapsing under the weight of the last few years. I agree that the way NFTs have been rolled out in general is simply a scam, or at best a highly dubious speculative investment likely to fail, but when the whole world is on fire it looks kind of disingenuous to point at a shady structure and say “look! It’s on fire!” as if that’s somehow different than most everything else and never mention how it
Re: (Score:2)
If I was ebay I would have cut my losses and redeployed assets on other things when the marketplace was crashing and it didn't just look like a temporary dip.
After all, if I am looking into buying it or similar business in 6 months time, it would probably be half price or lesser.
Maybe thats why I am not senior management for a major company.
Re: (Score:2)
Buy the dip!
(said crypto holders still needing to offload crap before it gets even worse)
Because Hype. (Score:2)
Because Hype.
Join the pyramid !!
How can you tell a fad is over? (Score:5, Insightful)
When big corporations jump onto it.
Re: (Score:2)
Pretty much. They will get some left-over fools to defraud, but that is it.
Re:How can you tell a fad is over? (Score:4, Insightful)
Funny? Insightful? I can't decide.
Re: (Score:2)
Funny? Insightful? I can't decide.
Most things which are funny are insightful, so why try? Last I heard funny didn't increase karma, but that was a long time ago, I don't know if it still works that way or not. But if it does one should always use Insightful instead of Funny, because that way if the author gets downmodded by someone who didn't get the joke (or didn't like that it was about them) they don't lose karma.
So now they can be sued (Score:2)
for aiding and abetting fraudulent and deceitful enterprises across state lines, yes?
Re: (Score:2, Informative)
There is nothing fraudulent about selling an NFT, unless you claim its value is guaranteed to increase or something. Sleazy, sure. Fraudulent? Nope.
Pushing Brave and now NFTs again (Score:2)
Shame on you.
LOL! (Score:1)
Beanie Babies (Score:3)